European Central Bank (ECB) President Christine Lagarde said on Tuesday it was difficult to say whether or not inflation has peaked in the euro area, as reported by Reuters.

"The minimum that we have to do is to stop stimulating demand," Lagarde added.

Market reaction

These comments don't seem to be having a noticeable impact on the shared currency's performance against its major rivals. As of writing, the EUR/USD pair was trading at 0.9972, where it was up 1.5% on a daily basis.